Unexplained income - Once, the assessee has admitted the ...

Assessee's Additional Income Admission Explains Capital Account Credits, Averts Tax on Unexplained Investments.

January 13, 2021

Case Laws Income Tax AT

Unexplained income - Once, the assessee has admitted the additional income, the said income is available to the assessee in the form of cash or kind which the assessee is permitted to take as source for application of funds. Thus, the assessee explained the source for credits in the capital accounts and there is no unexplained investment required to be brought to tax. - AT

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Unexplained income - Once, the assessee has admitted the ...

Assessee's Additional Income Admission Explains Capital Account Credits, Averts Tax on Unexplained Investments.

January 13, 2021

Case Laws Income Tax AT

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